Nayifat Finance Co. Announces the Appointment of the Chairman and Vice Chairman and the formation of the Audit Committee for the new term.

The Non-objection includes the following:

First: Appointment of Mr. Saud Hawaimal Faraj AlDosari as Chairman of the Board of Directors (Non-Executive Member)

Second: Appointment of Mr. Eid Faleh Saif AlShamri as Vice Chairman of the Board of Directors (Independent Member)

Third: Appointment of the Chairman and members of the Audit Committee, as follows:

1- Mr. Eid Faleh Saif AlShamri (Audit Committee Chairman – Independent Board Member)

Membership start date: 03-11-2025 and Saudi Central Bank Non-Objection on: 20-11-2025

Brief Resume of the Appointed Member:

A finance professional with over 38 years of experience in investment, governance, and audit. He served as the Chief Executive Officer of Ithraa Capital for 12 years and has extensive experience on boards and specialized committees across major companies in the banking, retail, insurance, and industrial sectors. He holds a bachelor’s degree in Industrial Management from King Fahd University of Petroleum and Minerals, is a Certified Public Accountant (CPA) by the American Institute of CPAs, and holds multiple U.S. FINRA licenses.

2- Mr. Abdullah Saleh AlLuhaidan (Audit Committee Member - Independent from outside the Board)

Membership start date: 03-11-2025, and Saudi Central Bank Non-Objection on: 20-11-2025

Brief Resume of the Appointed Member:

An internal audit professional with nearly 10 years of experience across the defense, energy, mining, and services sectors. He currently serves as the Director General of Internal Audit at the General Authority for Military Industries since 2020, and previously held roles at major organizations including Abunayyan, Ma’aden, and Abdul Latif Jameel. He holds a bachelor’s degree in Commerce (Accounting) from Swinburne University of Technology and a master’s degree in Finance from RMIT University, in addition to being a Certified Internal Auditor (CIA).

3- Mr. Fahd Suliman AlNuhait (Audit Committee Member - Independent from outside the Board)

Membership start date: 03-11-2025, and Saudi Central Bank Non-Objection on: 20-11-2025

Brief Resume of the Appointed Member:

A finance and investment expert with over 20 years of experience in investment management, financing, and industrial sector development. He currently serves as the Chief Executive Officer of HPDC and has previously held senior leadership roles at NEOM, Dussur, the Arab Investment Company, and the Saudi Fund for Development. He holds a bachelor’s and master’s degree in Financial Sciences, is a CFA charterholder, and has completed the Program for Leadership Development at Harvard Business School. He also serves on the boards of several leading companies, including Al Hammadi Investment, Saudi Coffee Company, Arabian Mills, and BRFA, in addition to prior roles in regional and international investment funds.

The above appointments came based on the Board of Directors' decision issued during its meeting held on 12-05-1447H, corresponding to 03-11-2025G.

The Board also decided to appoint Mr. Hussain Mohammed AlShakarah as the Secretary of the Board of Directors, in addition to appointing the company's representatives to the Capital Market Authority (CMA), the Saudi Exchange (TADAWUL), and the Securities Depository Center Company (EDAA) for all matters related to the implementation of the Capital Market Law and its executive regulations.